"News Updates March 31, 2024"

1. Bitcoin (BTC) Rally Could Stretch to Eight Months. Bitcoin is poised to achieve its seventh consecutive month of gains, a feat witnessed only once in its history.<\/p>\n

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The upward streak commenced in September 2023, fueled by anticipation surrounding Bitcoin exchange-traded funds (ETFs) approval.<\/p>\n

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Bitcoin Seven Months Streak<\/p>\n

Since September 2023, Bitcoin has consistently surpassed the previous month’s figures, indicating a sustained upward trajectory. As the end of March approaches, with Bitcoin trading at $70,000, the market could witness a seventh consecutive bullish month for BTC.<\/p>\n

The last time Bitcoin sustained a seven-month streak was in 2012 when its price surged from $4.89 to $12.37. Notably, following this streak, Bitcoin experienced a 10% decline.<\/p>\n

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“This is only the second time in Bitcoin’s history that seven consecutive months of positive returns have been achieved. Back in 2012, the following month saw a 10% decline before another six months with consecutive positive returns were generated,” crypto firm Matrixport explained.<\/p>\n

The current bullish sentiment has further attracted substantial capital inflows into the market. Coinbase, a prominent US-based exchange, recently witnessed its largest influx of USD Coin (USDC) stablecoin, totaling $1.4 billion, as reported by CryptoQuant. Market analysts interpret this surge in stablecoin deposits as a sign of robust buying interest, potentially facilitating increased participation in the crypto market.<\/p>\n

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The influx of USDC provides liquidity, enabling investors to enter the market and acquire digital assets. With heightened investor activity, Bitcoin’s quest for a new price record may encounter less resistance, potentially leading to further price appreciation and the continuation of its winning streak.<\/p>\n

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